Hog Prices-Markets
Cash-traded weaner pig reported volume was above average this past week, with 50,332 head reported. Cash weaner pig reported prices were $10.28, up $0.25 per head from last week.
“What’s going to make headlines in the next USDA Hogs and Pigs Report are farrowing numbers,” says Lee Schulz of Iowa State University. He discussed the supply side of pork production at the 2023 World Pork Expo.
Although anything is possible given the volatility in the markets, economist Scott Brown says it will take a combination of lower corn prices and stronger U.S. pork demand to result in profitability for pork producers.
Outside perspectives can breathe fresh life and insight into your business. Ten industry leaders in technology, economics, nutrition and health share advice for producers during a pivotal time in the pork industry.
The younger demographic wants to stay in touch with their culture, says Jose De Jesus of the National Pork Board. That’s why culture is a major focus in the Pork Checkoff’s most recently introduced strategic campaigns.
Proposition 12. Sideways breeding inventory. Astronomical input costs. Declining consumer demand. The issues affecting the pork outlook go on and on. Five economists share perspective on what’s ahead.
Cash-traded feeder pig reported volume was below average this past week, with 7,150 head reported. Cash feeder pig reported prices were $41.20, down $2.98 per head from last week.
With a population nearing 50 million, a growing middle class and solid tourism-driven demand from its hotel, restaurant and institutional food service sectors, Kenya has the potential to be a significant export market.
Olymel is cutting about 80 jobs as it reduces hog production in Western Canada due to ongoing financial losses and market uncertainty.
Cash-traded weaner pig reported volume was above average this past week, with 43,903 head reported. Cash weaner pig reported prices were $10.05, down $0.87 per head from last week.
Thom Petersen says he wasn’t a ‘“feed-the-world’ type of person” when he started as commissioner. “But as you get out on trade missions...you realize there’s a lot of people that just need to be fed.”
South Korea is resuming imports of German pork after suspending them for more than two years following the discovery of African swine fever (ASF) in Germany, the German agriculture ministry said on Tuesday.
USMEF Spring Conference guest speaker Kenneth Smith Ramos, a former chief NAFTA negotiator for Mexico, says ag trade has thrived under NAFTA and its successor pact, USMCA, bolstering food security across the continent.
Cash-traded feeder pig reported volume was above average this past week, with 9,575 head reported. Cash feeder pig reported prices were $42.22, up $0.75 per head from last week.
April retail pork prices fell marginally by 0.6% from the prior month to $4.73 per pound and were 3.2% below last year, according to recent data released by USDA Economic Research Service (ERS).
Pork exports to Japan are estimated to increase, with the U.S. having the highest estimated gains, USDA’s Economic Research Service (ERS) reports.
Cash-traded weaner pig reported volume was above average this past week, with 41,370 head reported. Cash weaner pig reported prices were $10.19, down $3.67 per head from last week.
There’s no sugarcoating this is a challenging time in the pork industry. Trade is vital to U.S. pork producers, and exports continue to be a bright spot even during tough times, Lori Stevermer testified on Thursday.
On Jan. 1, 2022, U.S. pork producers – indeed, producers anywhere in the world – will need to meet California’s arbitrary sow housing standards if they want to sell pork in that market of 40 million consumers.
California restaurant and grocery industry leaders don’t know if they can take another hit. That’s why a coalition of California restaurants and grocery stores has filed a lawsuit to block its implementation.
Seaboard Foods, the second-biggest U.S. pork producer, will limit sales of certain pork products in California due to a measure requiring farmers provide more space for animals raised for food sold in the state.
Another California law could have major implications for hog producers, consumers
Tyson Foods Inc plans to resume slaughtering pigs in mid-May at a Madison, Neb., pork plant damaged by fire two weeks ago, the meatpacker said on Tuesday.
Tyson Foods Inc posted a surprise second-quarter loss on Monday and cut its full-year revenue forecast on falling beef and pork prices, sending the U.S. meat packer’s shares tumbling 9% before the bell.
Cash-traded feeder pig reported volume was below average this past week, with 5,500 head reported. Cash feeder pig reported prices were $53.49, up $4.04 per head from last week.
The U.S. exported $7.6 billion worth of pork to more than 100 foreign destinations in 2022. That’s no small number.
In the past, when profits were challenged, the result was excessive growth and too much supply to sell at profitable prices. We are not used to structural demand problems, especially the global market blunting of demand.
Illinois pork producers are seizing a unique opportunity on May 3 to educate legislators about the pork industry and discuss the issues currently facing pig farmers.
Weak economic growth is taking its toll on global pork consumption. Despite early signs that the worst of the inflationary impact may have passed, the lagged impact on consumption is likely to be felt all year.
Challenging hog production market conditions compounded by sow herd health issues are resulting in the reported closure of 37 sow farms owned by Smithfield Foods Inc., in Missouri.